Sec. 1012. Disclosures of foreign gifts
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Section 117 of the Higher Education Act of 1965 ( 20 U.S.C. 1011f ) is amended— in subsection (b)— in paragraph (1), by adding at the end the following: In this paragraph, the term ; and aggregate dollar amount includes the fair market value of staff members, textbooks, and other in-kind gifts. in paragraph (2), by inserting In this paragraph, the term after aggregate dollar amount includes the fair market value of staff members, textbooks, and other in-kind gifts. each foreign government. ; in subsection (d)— in paragraph
(1)by striking are substantially and all that follows through this section, and inserting includes all information required by this section, ; and in paragraph
(2)by striking requirements substantially similar to those and inserting all the information ; in subsection (e), by adding at the end the following: Not later than 30 days after receiving a disclosure report under this section, the Secretary shall make such report electronically available to the public for downloading on searchable database under which institutions can be individually identified and compared. Not later than 60 days after the date of the enactment of the ; College Affordability Act , the Secretary shall make available in the same manner as described in the preceding sentence, each disclosure report received under this section on or after January 1, 2000, to the extent that the Secretary has access to such report. by amending subsection
(g)to read as follows: Not later than 2 years after the date of the enactment of the College Affordability Act , the Secretary shall issue regulations to carry out this section. Regulations under paragraph
(1)shall be— developed through the negotiated rulemaking process under section 492; developed with consultation from stakeholders; and published in the Federal Register in accordance with section 482. ; and in subsection (h)— in paragraph (3), by striking or property and inserting property, human resources, or payment of any staff; ; and in paragraph (5)(B), by inserting institutes, instructional programs, after centers, . The amendments made by this section shall apply to institutions under section 117 of the Higher Education Act of 1965 ( 20 U.S.C. 1011f ) on the date that is 2 years after the date of the enactment of this section.
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Sec. 1012
Disclosures of foreign gifts
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